Navios cancels MR duo

Navios Maritime Acquisition Corporation (NNA) has torn up contracts for two newbuildings due to the yard’s finance problems.

The Greek owner said it had terminated the MR2 orders because of the unnamed shipbuilder’s ability to issue a refund guarantee.

It added the move involved no exposure for NNA.

Its website lists the 51,200-dwt duo as scheduled for delivery in the third and fourth quarters of 2015.

The company declined to identify the yard when contacted by TradeWinds.

Omar Nokta of Clarkson Capital Markets notes the cancellation brings to an end the company’s newbuilding programme initiated several years ago.

Despite this, he says Navios Acquisition remains open to fleet expansion opportunities.

source:www.tradewindsnews.com